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Budgeting in Your Marriage

This is the first post in a series about managing your finances in your marriage. Often, money problems can lead to an unhappy marriage. In my 15 years of work, I’ve actually helped save marriages with bankruptcy. Since bankruptcy allows you to make a fresh start with your debt, it makes room for the more important things in life, like family and relationships. Here is the first tip on balancing your marriage and your budget—the right way.

Think About How Your Dream Wedding Will Affect Your Dream Marriage
Every girl dreams of having a perfect wedding—with lavish decorations and the best dress; but maybe it is more important to have a dream that you can afford. The average wedding costs $30,000 these days. That hefty price tag translates into a lot of pressure for your big day. If you are feeling the weight of having a perfect wedding, have an open, honest conversation with your partner about both of your expectations and how reality can meet them.

The best way to balance expectations and the actual day is to sit down and write a budget. With a budget, you eliminate emotional decision making, which is often the culprit in overspending while planning a wedding. It can also make you think more about what you are buying and give you the patience to make the right decisions instead of impulsively buying everything from the October issue of “The Perfect Bride.” Making a budget for your wedding that you can stick to can improve your chances of staying out of debt and focusing on the more important parts of your wedding like the your partner, your family, and your friends.

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